Rupee surges 16p to close at 72.49 against $

The r upee g ained 16 paise to settle at 72.49 (provisional) against the US dollar on Monday suppor ted b y sustained foreign fund inflows and expecta tion of improved macr o-economic data.

At the interbank f orex market, the local unit opened at 72.58 a gainst the greenback and witnessed an intra-da y high of 72.29 and a low of 72.58.

It finally ended a t 72.49 against the American currency, r egistering a rise of 16 paise fr om its pr evious close. On Thursday, the r upee had settled a t 72.65 against the American currency. T he f orex mar ket was shut on F riday on account of Chhatrapati Shivaji Maharaj Jayanti.